The market size of Silicon Nitride is projected to grow from USD 90 million in 2018 to USD 127 million by 2023, at a compound annual growth rate (CAGR) of 7.2% during the forecast period. The major driving factors for the market are the use of silicon nitride as an alternative in end-use industries as it exhibits superior properties than the other ceramics being used. There is a need for high-performance materials in end-use industries such as automotive and aerospace.
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In the medical industry, silicon nitride is used as a material for manufacturing surgical screws, plates, and bearings for use in applications such as prosthetic hips, knee joints, and dental implants. Silicon nitride composites are also used in cervical spacers and spinal fusion devices. It is biocompatible, bioactive, bacterial resistant, and shows excellent bone affinity.
Also, silicon nitride can provide an exceptionally smooth and wear-resistant surface for applications, such as bearings for hip and knee replacements in the medical industry. The market for silicon nitride in the medical industry is in the nascent stage and is expected to grow the fastest in the coming years.
Table of Contents
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Silicon Nitride Market, By Type
7 Silicon Nitride Market, By End-Use Industry
8 Silicon Nitride Market, By Region
9 Competitive Landscape
10 Company Profiles
APAC is the largest silicon nitride market, and this trend is expected to continue until 2023. China accounted for the largest market in the region, followed by Japan, South Korea, and India in the year 2017. China is also projected to grow the fastest, in terms of consumption, between 2018 and 2023. There is an increase in the consumption of silicon nitride in the automotive industry. Growing innovation and the rising demand for improved products in the end-use industries are driving the use of silicon nitride in the region.
Major manufacturers operated in Silicon Nitride Market includes UBE (Japan), Denka (Japan), AlzChem (Germany), H.C. Starck (Germany), Yantai Tomley Hi-Tech Advanced Materials Co. Ltd (China), and Vesta Si (Sweden). The leading players for the fabrication of silicon nitride are 3M (US), CeramTec (Germany), Kyocera Fine Ceramics (Japan), Morgan Advanced Ceramics (UK), Toshiba (Japan), Rogers Corporation (US), and CoorsTek (US). These players adopted expansions, acquisitions, new product launches, and agreements as their key growth strategies from 2014 to 2018, which helped them increase their capacities and cater to the widening customer base.
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